Euroscreen Products SA Acquired by PerkinElmer Inc.

BRUSSELS, Belgium - Jan. 12, 2007 - Euroscreen SA, a provider of
GPCR products and services to the life sciences industry, today
announced that it has completed a transaction with PerkinElmer Inc.
(NYSE: PKI) to sell its Euroscreen Products S.A. subsidiary
comprising all of Euroscreen's former GPCR products in exchange for
EUR 14 million in cash. Euroscreen retains its rights to the use of
all Euroscreen Products' GPCR cell lines, membranes and
AequoScreen(TM) technology for future use in its research and
custom services businesses.

"The dedication of our employees has placed our company in a
position both to both benefit from this sale to PerkinElmer and to
position the company to focus its resources on its drug development
strategy," said Dr. Jean Combalbert, Chief Executive Officer of
Euroscreen. "PerkinElmer is a great partner with whom we share
similar business values. Going forward, Euroscreen Products SA
together with PerkinElmer will continue to work with us to develop
new GPCR reagents, assay procedures and instrument applications for
the benefit of both of our companies."

Euroscreen will continue its custom services business to provide
biotech and pharmaceutical customers around the world with its
EuroSCREEN FAST custom screening, GPCR antibody development and
other services, while pursuing the drug development business of the
continuing company.

Euroscreen is a preclinical-stage biopharmaceutical company
focusing on the discovery, development and partnering of small
molecule drugs for unmet medical needs. Euroscreen is developing a
pipeline of compounds targeting G protein-coupled receptors
(GPCRs), using over 12 years of experience in research and
commercialization of this critical class of drug targets in
association with the Institute of Interdisciplinary Research
(IRIBHM) of the University of Brussels. The company is developing
internal targets such as CCR5 and multiple targets in the
inflammation area as well as several preclinical-stage
collaborations with partners.

The Company has developed a broad target portfolio for licensing
to biopharmaceutical companies. Such patents address GPCRs such as
CCR5, Chemerin receptor, GPR43, GPR7/8, FPRL2, purinergic receptors
(P2Y4, P2Y11 and P2Y13) and SHIP2 for type II diabetes. Euroscreen
is able to offer intellectual property rights to companies for the
development of therapeutic drugs that act through these
targets.

Euroscreen pursues a dual platform strategy of combining its
drug discovery business with its custom services business,
including its custom screening services (EuroSCREEN FAST?), GPCR
antibody development and other services to serve biotech and
pharmaceutical companies around the world. The company has research
and licensing partnerships with Alchemia, Cephalon, ChemDiv, ICOS,
Medarex, Novartis and Pfizer Inc. Euroscreen is a privately held
company based in Brussels, Belgium.

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